NRB raises upper slab of forex facility on import of silver as raw material
Summary
Nepal Rastra Bank has raised the upper limit of foreign exchange for silver imports from $300,000 to $500,000 to support industries using silver as a raw material.
Key Points
- Nepal Rastra Bank increased the foreign exchange threshold for silver imports from US $300,000 to US $500,000.
- The change aims to provide relief to entrepreneurs importing silver as industrial raw material.
- This revision applies to industries engaged in gold and silver businesses making silver jewelry and other artistic items.
- The directive permits exchange facilities up to US $500,000 or equivalent in other convertible foreign currencies per import.
